Top Story

FTSE rises as miners, IAG lead rally

The FTSE is putting its front foot forward this morning as miners rallied across the board following an increase in copper, silver and gold prices. 

Airlines are also in the spot light after Ryanair profits beat forecasts and British Airways parent International Consolidated Airlines announced plans to buy Air Europa, Spain’s third-largest airline which connects Spain with parts of South America. 

The airline sector is in a precarious position with high fuel costs and increasing wage demands making it very difficult for many airlines to remain profitable. Both Ryanair and IAG are cases in point, in different ways. Ryanair has cut costs so far that it is regularly in friction either with staff of passengers. Air Europa is on the other end of the scale being one of the many carriers struggling to make enough profit and therefore becoming a takeover target. 

Mothercare shares plunges 28% 

Mother and baby chain Mothercare which has been teetering on the verge of collapse for many months has dropped 28% after it said it is about to go into administration. The move does not come as much of a surprise because the firm lost £36.3m last year and this year’s results continued to show the same grim picture. The sale of its Early Learning Centre earlier this year was not sufficient to stave of a decline in profits and now the company may end up closing stores which remain after a cull earlier this year. 

Sterling flat as election battle lines are drawn

UK parties are drawing their battle lines ahead of the election of December 12 with Nigel Farage offering a Brexit pact to Conservatives but then saying he will not stand as a candidate after the PM rejected his proposal. 

Labour also shot its opening arrow with Jeremy Corbyn’s election speech followed up by an election rally in Bristol. For the moment the currency markets are taking everything with a pinch of salt and the pound is weakening against the euro and the dollar.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

The markets are moving. Stop missing out.

OPEN AN ACCOUNT